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is moving closer to debt ceiling deadline. who might be impacted the most if the government can't pay its bills? another deadly incidents at a factly in bangladesh, this time a fatal fire that's renewing safety concerns. the pilots in the deadly asian a air crash in san francisco weigh in on the accident, what they say may have been the cause. >>> as the u.s. approaches the october 7 typeth deadline to raise the debt ceiling, fear of a default is growing. and so is the debate over what will actually happen if the nation is no longer able to pay its bills. jonathan betts takes a closer look at the potential impact. >> reporter: the default means it's out of money, it's like you have maxed out your credit card but still have bills to pay so you try raise your credit limit. so just how much does the u.s. government spend? let's peek in to its check book or the daily treasury report. on thursday thursday. just last thursday the united states brought in $110 billion. from taxes, farmers paying loans, customs fees, but on that same
is moving closer to debt ceiling deadline. who might be impacted the most if the government can't pay its bills? another deadly incidents at a factly in bangladesh, this time a fatal fire that's renewing safety concerns. the pilots in the deadly asian a air crash in san francisco weigh in on the accident, what they say may have been the cause. >>> as the u.s. approaches the october 7 typeth deadline to raise the debt ceiling, fear of a default is growing. and so is the debate over what...
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Oct 9, 2013
10/13
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he says to them, extends the debt ceiling. if they can't do it for a long time, do it for a period of time during which negotiations take place. then the president went on to say something rather unusual. they can attach some process to that that gives them certainty that, in fact, the things they're concerned about will be topics of negotiation, and here are the keywords. if my word is not good enough. so in a town that has for generations operated on handshakes, the president is suggesting that maybe the opposite party won't believe him, and he's willing to put in writing he'll deal later. he wants the debt ceiling raised now and the government to be open now and not to hold either items as he calls it hostage to the political of the republicans. >> yet, the republicans aren't budging clearly. house speaker boehner said they're using the debt ceiling now as political leverage. do we know how that message will play among americans concerned with the possible default? >> reporter: well, poll after poll shows that americans are
he says to them, extends the debt ceiling. if they can't do it for a long time, do it for a period of time during which negotiations take place. then the president went on to say something rather unusual. they can attach some process to that that gives them certainty that, in fact, the things they're concerned about will be topics of negotiation, and here are the keywords. if my word is not good enough. so in a town that has for generations operated on handshakes, the president is suggesting...
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Oct 12, 2013
10/13
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there is a deal to be had to raise the debt ceiling in the next 48 hours that will also relieve some of the pain caused by the affordable care act. >> competing with a house republican plan. remember they came back yesterday with a six week extension. the president through his spokesman today backing off any sort of support of that. this past tuesday the president said he would absolutely be open for an extension as short as six weeks. in the meantime, the white house now balking at that as well. house and senate democrats, the president's allies were reluctant to commit to anything like that as a way to brak the impasse. >> better known as the sequester, those cuts are due by january 1st. >>> some of america's iconic national monuments will open again in spite of the government shutdown. the statute of liberty gran canyon and mount rushmore will be opened. >>> north korea says it's rejecting the noncongregation agreement that secretary of state john kerry offered just last week. north korean officials say they want u.s. sanctions dropped against them. kerry says the u.s. is ready to
there is a deal to be had to raise the debt ceiling in the next 48 hours that will also relieve some of the pain caused by the affordable care act. >> competing with a house republican plan. remember they came back yesterday with a six week extension. the president through his spokesman today backing off any sort of support of that. this past tuesday the president said he would absolutely be open for an extension as short as six weeks. in the meantime, the white house now balking at that...
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Dec 13, 2013
12/13
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the debt ceiling issue is something that can be left until january. elections arenal in november next year. the republicans want to have a major showdown over the debt ceiling. i suspect that that will not be too much of an issue. >> they were issues for the fed in september and that is where ben bernanke and his team did not go ahead with cutting back on quantitative easing. if you have made progress, if the u.s. government and the house have made progress in averting shutdown, does that make tapering more likely? >> it does make it more likely. we can have a very close score next week. of the fiscal issues have been sorted out. if you look at the recent jobs report, we have not only had to better jobs numbers in a row, we have had an upward trend in job creation over the next few months which is positive. the question is how concerned is the said about the mixed signals in the housing markets? we have pending home sales at a 10 month low. new home sales jump but the prices have been week. we have had a trend client. the fed would like to ask this ti
the debt ceiling issue is something that can be left until january. elections arenal in november next year. the republicans want to have a major showdown over the debt ceiling. i suspect that that will not be too much of an issue. >> they were issues for the fed in september and that is where ben bernanke and his team did not go ahead with cutting back on quantitative easing. if you have made progress, if the u.s. government and the house have made progress in averting shutdown, does that...
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Dec 17, 2013
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has said that if the debt ceiling around february 7. potentially facing another fight in early march. i talked to one republican earlier today who said the white house could say they will negotiate all they want, but the fact is when it comes to running up debt ceiling votes, it is very difficult for republican leadership to do so. the white house is going to have to give something. it is not because it is the way it ought to be but it is the way it is. >> thank you. coming up, it is just the first step to does the bipartisan budget deal reached in washington signal a smoother path to resolving -- to resolving other issues? we will continue in just a moment. ♪ >> welcome back. but show you the equity markets finish today's session. equities rebounded from the worst weekly slump since august on manufacturing growth. investors are awaiting the outcome of the fed's two-day meeting to get underway on tuesday. the s&p 500 index was up 11 points. the dow industrial is up 129 points. the nasdaq composite was up 28 points to 4029. boeing anno
has said that if the debt ceiling around february 7. potentially facing another fight in early march. i talked to one republican earlier today who said the white house could say they will negotiate all they want, but the fact is when it comes to running up debt ceiling votes, it is very difficult for republican leadership to do so. the white house is going to have to give something. it is not because it is the way it ought to be but it is the way it is. >> thank you. coming up, it is just...
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Dec 24, 2013
12/13
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what about the debt ceiling coming up? >> first of all, the biggest flashpoint for my once they set that top line number, that is significant. fights overe everything from funding for the environmental protection agency where republicans are not big fans and they will fight over obamacare and republican lawmakers will refuse to allocate certain money for enforcement of the president's health care law even as it continues to enroll people. that will be another source of friction and you will have fights within the defense sector , specific programs versus other programs. where to the individual dollars go? as you said, we've also got the challenge of the debt ceiling coming up. there is no agreement whatsoever in the debt ceiling and that deadline is february 7. we heard last night that the effective deadline is late february -- early march and we will have a show down again over the debt ceiling. republicans say they want something in return for lifting the debt ceiling and the low hanging fruit has already been plucked as
what about the debt ceiling coming up? >> first of all, the biggest flashpoint for my once they set that top line number, that is significant. fights overe everything from funding for the environmental protection agency where republicans are not big fans and they will fight over obamacare and republican lawmakers will refuse to allocate certain money for enforcement of the president's health care law even as it continues to enroll people. that will be another source of friction and you...
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Dec 19, 2013
12/13
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what is the word on the debt ceiling? >> the dynamic on the debt ceiling, february 7 it runs out. republicans probably they are indicating they will not litigate again. they had such a good few cycles, a brilliant six weeks, two months of negative news on obamacare. what they do not want to do is shoot themselves in the foot again. they may choose to litigate on spending. they are going to try to extract something. mitch mcconnell is the senate minority leader. they will want to extract something for the debt ceiling. it is just a question of whether or not obama will hold the line against erie it is another opportunity for a fight. markets will not like it. for the next 16 months, there may be smooth sailing. >> looking forward to a bit of smooth sailing. hans nichols, our international correspondent. >> from smooth sailing to clear have had. -- clear air ahead. eads may be clearing. airbus won a sizable order from air asia x. caroline has the details. how big a deal is this? >> $6 billion. 25 a-330's. this is what will be delivered come 2015. it is the long haul unit of a budget
what is the word on the debt ceiling? >> the dynamic on the debt ceiling, february 7 it runs out. republicans probably they are indicating they will not litigate again. they had such a good few cycles, a brilliant six weeks, two months of negative news on obamacare. what they do not want to do is shoot themselves in the foot again. they may choose to litigate on spending. they are going to try to extract something. mitch mcconnell is the senate minority leader. they will want to extract...
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Dec 19, 2013
12/13
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it is the debt ceiling -- not the deficit, but the debt. but interest rates at three percent -- >> we will come back with you. a special "surveillance." a lecture with marielle cavalli and peter orszag -- mario gabelli and peter orszag. that was fascinating. >> all right, we have much more coming up. are also higher and yields are coming down the little bit. let's take a look at mario gabelli's top stock picks. you don't want to miss that. ♪ >> good morning, everyone. i'm tom keene. with me, mario gabelli, peter orszag and scarlet fu and alix steel with us as well. you have important news. restaurants,darden that owns red lobster and olive garden, is spinning off red lobster and curbing olive garden's growth. breaking news just in the last hour -- or 10 minutes, in fact. spinning off red lobster. shares are moving down in the premarket. >> it really speaks to the difficult environment restaurants have enticing new customers. the economy might be there for some people buffer restaurants it is still difficult to grow the business. a lookant
it is the debt ceiling -- not the deficit, but the debt. but interest rates at three percent -- >> we will come back with you. a special "surveillance." a lecture with marielle cavalli and peter orszag -- mario gabelli and peter orszag. that was fascinating. >> all right, we have much more coming up. are also higher and yields are coming down the little bit. let's take a look at mario gabelli's top stock picks. you don't want to miss that. ♪ >> good morning,...
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Jan 22, 2013
01/13
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call it debt ceiling spackle. why the newest development in the debt talks is much to do about nada. don't worry, everything's fine. one analyst who says don't bail on boeing just yet, tand why por phil mickelson is ready to pack his bags and get out of dodge. also a change is coming into your atm. >>> there are no big moves in the markets, but the dow touched its highest intraday level in over five years. it is on its best monthly gain since january of 2011, and part of this move is being fueled by historic highs for the dow transports for the fifth straight session. let's get straight down to courtney reagan on the floor of the nnysc. >> we are seeing the dow outperform, making it the fifth way that the transport also hit the historic highs. we have seen this pattern of the transports outperforming the industrials since the middle of december. airlines gained the most, up about 28% since the november 16th low. but if we look at stocks overall, you mentioned t not a super exciting day from the onset. we moved in
call it debt ceiling spackle. why the newest development in the debt talks is much to do about nada. don't worry, everything's fine. one analyst who says don't bail on boeing just yet, tand why por phil mickelson is ready to pack his bags and get out of dodge. also a change is coming into your atm. >>> there are no big moves in the markets, but the dow touched its highest intraday level in over five years. it is on its best monthly gain since january of 2011, and part of this move is...
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Jan 22, 2013
01/13
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so is the gop about to cave on a debt ceiling deal? we may know a lot more soon. there's a plan floating around washington, stop lawmakers pay if there's no solution on the debt ceiling by the deadline day. >>> and this guy, he's teed off, the golfer phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results. more on them in a few minutes. let's get you ahead of the curve. google is getting ready to report its latest results after the bell. fears about an ad revenue and major focus on those shares. google right now is down 3 bucks on the trading session. john is in silicon valley with what investor s need to know ahead of the numbers. >> couple of important themes this quarter, mobile and mobile. mobile's impacted on the core business. as more people do searches from mobile devices, google's revenue has been coming down. it's more than likely this trend will continue as smartphone and tablet sales spi
so is the gop about to cave on a debt ceiling deal? we may know a lot more soon. there's a plan floating around washington, stop lawmakers pay if there's no solution on the debt ceiling by the deadline day. >>> and this guy, he's teed off, the golfer phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results....
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Sep 12, 2013
09/13
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particularly with the debt ceiling, the economy remains too fragile. we've had 100 bases point spike in the last two months. once you start screwing around with the debt ceiling more so than the continuing resolution, you're really talking about taking aim at an economy that's trying to recover. so i like nothing about this. i will say one thing, it is not totally clear to me that the way out of this means resolving the republican family squabbles. the way out of this is for john boehner to increase the debt ceiling with a bunch of democrats. i'm not saying you can swallow that. >> there's not going to be a clean bill. there might be a clean cr, maybe. there's not going to be a clean debt bill. jim, the reason i thought jared might like this is this is all republican fighting. >> i do like that part. >> i figured you would. jimmy, i think if the gop is not careful, they'll get themselves into a lot of hot water. >> listen, if some day they want to actually repeal and replace obama care, what they need to do is to win the senate and win the presidency.
particularly with the debt ceiling, the economy remains too fragile. we've had 100 bases point spike in the last two months. once you start screwing around with the debt ceiling more so than the continuing resolution, you're really talking about taking aim at an economy that's trying to recover. so i like nothing about this. i will say one thing, it is not totally clear to me that the way out of this means resolving the republican family squabbles. the way out of this is for john boehner to...
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Oct 7, 2013
10/13
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compared to the last debt ceiling show down, the u.s. was a clear safe haven trade. >> an investment because of a risk off type trade. probably going to be stricter than it was before. that actually has improved over the last years. that tends to help. >> absolutely. i think if you see a rising rate environment because the u.s. economy is gradually improving and inflation is still a concern, that tends to be good for cyclical stocks. if rising rates are happening because inflation is a huge concern, think of maybe brazil that's a different situation. >> in europe you like mid and small caps. why? because they are more domestic oriented companies. >> so if you like u.s. and you like the european recovery what about the u.s. multinational. >> i think valuation comes into play. a lot of the -- i do agree, also might be looking interesting. it's more of a u.s. play rather than a china or rush hour. >> it was up 15% today. are people just grasping and hoping? >> and it is a hedge fund favor. >> to a certain degree. when you look at europe you
compared to the last debt ceiling show down, the u.s. was a clear safe haven trade. >> an investment because of a risk off type trade. probably going to be stricter than it was before. that actually has improved over the last years. that tends to help. >> absolutely. i think if you see a rising rate environment because the u.s. economy is gradually improving and inflation is still a concern, that tends to be good for cyclical stocks. if rising rates are happening because inflation...
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Jan 4, 2013
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debt ceiling. >> what they also couldn't say is once we get to a bad june and the risk that washington, d.c. will destroy the economy drop, maybe we don't have to be so aggressive. but they can't admit that the roept they buy it this way is because they have -- but these minutes were before the fiscal cliff. >> i think the fed was so easy in part because -- >> oh, we should feel so good about what they came up with. no spending cuts and a just a big tax increase. gosh, they did such a great job. can you imagine the guy that will take a victory lap for not addressing our spending problems one iota? obama, how can you say you won and, gosh, be smiling and patting yourself on the back. >> because he defined the problem as not having enough tax revenue. but now we can see right after they do the cliff, we have s&p, moody's, the imf coming out and saying, this doesn't come close. the problem all along has been spending. t the republicans got the right issue and the wrong chart. >> the chart yesterday sh
debt ceiling. >> what they also couldn't say is once we get to a bad june and the risk that washington, d.c. will destroy the economy drop, maybe we don't have to be so aggressive. but they can't admit that the roept they buy it this way is because they have -- but these minutes were before the fiscal cliff. >> i think the fed was so easy in part because -- >> oh, we should feel so good about what they came up with. no spending cuts and a just a big tax increase. gosh, they...
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Jan 12, 2013
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that's what the debt ceiling is all about. and the irony is the 14th amendment argument actually could work both ways. arguably the debt ceiling itself is unconstitutional. because it questions the validity of the national debt. the debt that congress has already racked up. >> no. it questions the appropriateness of raising the debt. that's the issue. jimmy, i want to go here. is there anybody on the republican side who is saying we want to default on the debt? is there anybody on the republican side that says we're not going to raise the debt ceiling? >> no. nobody thinks that's a good idea to default on the debt. going past the debt ceiling i think that's not a great idea. but theoretically there's enough money coming in to pay the debt. you could pay people getting social security. that's really not the point. the point is whether there is at some point are there -- i think there should be actual spending cuts. listen. cut spending today. cut spending tomorrow. but cut spending sometime somewhere. but we're not doing that.
that's what the debt ceiling is all about. and the irony is the 14th amendment argument actually could work both ways. arguably the debt ceiling itself is unconstitutional. because it questions the validity of the national debt. the debt that congress has already racked up. >> no. it questions the appropriateness of raising the debt. that's the issue. jimmy, i want to go here. is there anybody on the republican side who is saying we want to default on the debt? is there anybody on the...
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Jan 22, 2013
01/13
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joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away from fundamental investing in the equity markets. and so, there's a movement afoot, later on, actually beginning of next month, to have a roundtable discussion at the s.e.c. about a widening tick increments, adding bid offer spreads for small cap stocks and a way to try to drive liquidity back into the small cap market. >> my question is, if we did see a return of the individual investor and just more interest in the stock market, i argue was very low, still, even though we're getting close to highs on the -- >> i agree. >> i still think it's low. wouldn't that solve a lot of the
joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away...
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Jan 2, 2013
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and also at the debt ceiling. because even though the united states government was on track to hit its debt ceiling, as the secretary geithner said, at the end of 2012, he's got a couple of months of wiggle room. but only a couple of months. so all of these fights are still ahead of us. and as the president said, when he was doing a pep rally for this deal the other day, he's coming back for more taxes as well. >> i guess the question is, how urgent do you think congress is looking at the next set of problems? are they ready to roll up their sleeves and get back to work, or push it to the very end like we saw them do with the fiscal cliff? >> i think the smart bet is they may be rolling up their sleeves, but they're not going to get it done until just before the deadline. >> a huge relief, the dow is up 261 for the moment. thank you very much. >> let's get more insight on the economic data out a few moments ago, and maybe a little bit more on the cliff. senior economic reporter steve liesman joins us now. >> very
and also at the debt ceiling. because even though the united states government was on track to hit its debt ceiling, as the secretary geithner said, at the end of 2012, he's got a couple of months of wiggle room. but only a couple of months. so all of these fights are still ahead of us. and as the president said, when he was doing a pep rally for this deal the other day, he's coming back for more taxes as well. >> i guess the question is, how urgent do you think congress is looking at the...
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Jan 9, 2013
01/13
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we have government shut downs and debt ceilings. vice president sebiden is meeti with the nra and senator feinstein wants to ban handguns the kudlow report begins right now. >> cnbc contributor jared bernstein. i can't think of a single reason why they have to put in such an unstring wi undistinguished person in such an important spot. >> i take issue with that. you have to take into consideration issues, but i will say when it comes to one of the most important jobs of the treasury secretary, which is managing the budget, you can't have a better guy than jack lu. you can talk a lot about it. >> that is where i disagree. this is not, hang on a second. i'm going to give jimmy a whack at this. this is not the director of the office of managing the budget. that is where i used to work. this is about financial matters. this is about guys who know what goes on at the world's financial capitol. this is about guys who used to look after the currency and about guys who are going to have to deal with republicans over the debt ceiling and acc
we have government shut downs and debt ceilings. vice president sebiden is meeti with the nra and senator feinstein wants to ban handguns the kudlow report begins right now. >> cnbc contributor jared bernstein. i can't think of a single reason why they have to put in such an unstring wi undistinguished person in such an important spot. >> i take issue with that. you have to take into consideration issues, but i will say when it comes to one of the most important jobs of the treasury...
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Jan 11, 2013
01/13
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the debt ceiling, we're the only country on ert with a debt ceiling. there are other countries that have controls, including debt-to-gdp. debt as a percentage of the economy requirement but we're the only one that has a debt ceiling. the debt ceiling is really dealing with, you know, hows that have already been passed, apropose riegss that have already been made, ultimately what we need to do is achieve a grand bargain where we get rid of the debt ceiling. we substitute statutory budget controls and i would argue a constitutional debt as a percentage of the economy limit. >> saying you could never go beyond -- >> that's right. >> what percent would that be? >> 120% of gdp, 100%. public debt we're about 75. total debt we're over 100 already. so depends on how you want to count it. let's recognize what it is. on the other hand, spending is a huge problem. we're going to have to reform social insurance programs. we're going to have to do a better job of controlling health care costs. we're going to have to engage in comprehensive tax reform. yes, we're go
the debt ceiling, we're the only country on ert with a debt ceiling. there are other countries that have controls, including debt-to-gdp. debt as a percentage of the economy requirement but we're the only one that has a debt ceiling. the debt ceiling is really dealing with, you know, hows that have already been passed, apropose riegss that have already been made, ultimately what we need to do is achieve a grand bargain where we get rid of the debt ceiling. we substitute statutory budget...
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Jan 3, 2013
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i automatically think of the debt ceiling. but we have data before the debt ceiling debate. >> there is a lot coming up. whether data and the data -- listen, data is getting better. continues to be mixed but it is airing out to more positive, right? so that's good. yet, we have the debt ceiling and spending cuts and they are setting it up for that fight that's coming up. obama wants more tax increases along with spending cuts and republicans have gone, we want spending cuts. we saw seven retailers went sales, more than anticipated in december. i think the more on the ping is, will that kind of trend spill over into the broader markets? will we hear more down grades because the market is not doing that right now? the market is not set up for that. >> thank you very much, appreciate it. speaking of the debt ceiling and talks that are ahead of us, the 113 congress convening in washington. two days after reaching that fiscal cliff deal and pressure is already on them to get back to work. the folks behind the fix, debt campaign cam
i automatically think of the debt ceiling. but we have data before the debt ceiling debate. >> there is a lot coming up. whether data and the data -- listen, data is getting better. continues to be mixed but it is airing out to more positive, right? so that's good. yet, we have the debt ceiling and spending cuts and they are setting it up for that fight that's coming up. obama wants more tax increases along with spending cuts and republicans have gone, we want spending cuts. we saw seven...
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Jan 7, 2013
01/13
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treasuries with regard to debt ceiling, are they being real? whenever i have questions like this, i always go to the man. larry kudlow will be our guest in 20 minutes. you'll want to see this one. [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. >>> a sight for sore eyes. >> good morning. happy new year. fortunately or unfortunately i get about a thousand year-end reviews. one stood out this career. one is the asset manager firm. it's up to 20 plus years now, outperformed the s&p more than two to one of 28% last career, mark ten years significant value over the s&p. and so let's talk about some of the names on the 2013 forgotten 40 list. let's start out with gold foods. why is that on the list and tell us why you like it. >> sure. thanks for having me, first. gold is on there for two reasons. on
treasuries with regard to debt ceiling, are they being real? whenever i have questions like this, i always go to the man. larry kudlow will be our guest in 20 minutes. you'll want to see this one. [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it....
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Oct 16, 2013
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then in february for the debt ceiling. we'll have to either go through this process again, or as mr. costa was talking about, perhaps this sets the table for discussion on longer term debt situations, whether in tax reform or entitlement payments. if this sets something up where we have adult at the table, they can get clarity out of washington. i think that would be very much of a positive result. >> yeah, the adults here. a lot of investors haven't stuck around for the dysfunction. they've headed offshore. foreign stocks have been the beneficiary recently as people have been dumping out of u.s. stocks or mutual funds. you know, now it looks like a deal is imminent. do you think we'll see that being reversed and that maybe we'll start to be the beneficiary and start outperforming in equities or is that not a scenario you see? >> that's a really good question. one of the reasons wasn't necessarily because you're getting out of u.s. because of dysfunctions or disarray, it's because multiples are high. if you look at chasing
then in february for the debt ceiling. we'll have to either go through this process again, or as mr. costa was talking about, perhaps this sets the table for discussion on longer term debt situations, whether in tax reform or entitlement payments. if this sets something up where we have adult at the table, they can get clarity out of washington. i think that would be very much of a positive result. >> yeah, the adults here. a lot of investors haven't stuck around for the dysfunction....
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Oct 16, 2013
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the possible end to the debt ceiling crisis as the clock winds down on the debt ceiling deadline. we're co-hosting a ceo congressional summit. ceos of honeywell and bmc duking it out with representative levin and kingston. general motors dan akerson. hear about their big push to develop natural gas vehicles. ebay out with results any moment. we'll break down the numbers for you. stock finishing up 53 and change today. you're watching the "closing bell" on cnbc, first in business worldwide. >>> the search is on for the new tech path. are they winning the battle to innovate and boost? >>> welcome back. stocks on a tear today due to hopes of a debt ceiling deal in washington. bob pisani, pretty good enthusiasm today but is it premature? >> it may be. earning are the big deal. sell on the news ins middle of the day stocks drooped. take a look at dow jones industrial. dow is 2% from an historic high. volatility collapsed today. the vix was almost 19 yesterday. dow down below 15, that's a three-week low. interest rates also dropped, ten-year yield dropped to the downside. that helped in
the possible end to the debt ceiling crisis as the clock winds down on the debt ceiling deadline. we're co-hosting a ceo congressional summit. ceos of honeywell and bmc duking it out with representative levin and kingston. general motors dan akerson. hear about their big push to develop natural gas vehicles. ebay out with results any moment. we'll break down the numbers for you. stock finishing up 53 and change today. you're watching the "closing bell" on cnbc, first in business...
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Jan 15, 2013
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ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >> but the chairman was fairly upbeat on the outlook for u.s. growth. but, gave no clear hints on when the fed would curb its aggressive bond purchases. we'll have more on the debt ceiling in the next hour when we speak to senator rob portman. you guys, wilbur, you also said we have -- we are fully ready with inflation, we have all the tools we need to exit. >> well, i caution a little bit. historically the fed has always bought short-term paper and it's easy then to raise the interest rates. again you let the paper roll off, you sell it. now they've been buying long-term paper. rates start to go up, fed cou
ceiling to avoid a potentially disastrous debt default. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit rating saying oh, i know how we can save money we won't pay our credit card bills. not the most effective way to improve your credit rating. >>...
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Jan 17, 2013
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. >> stop using the debt ceiling. you'll have a continuing resolution that runs out two weeks afterwards. why risk. in fact, if this is the rhetorical debate you want to have -- >> the problem with the republican party we get into this incrementalism where we assume we can win and keep putting off the debate. let's have a debate about whether or not we should balance our budget. >> a continuing resolution will be passed. the debt ceiling will be raised, right. >> i agree. the debt limit should be raised. >> should be raised with spending cuts and policy changes. >> why. >> so we can put our nation on a path to balance. >> why not have the fight on resolution. you're talking about future spending and not threatening the full faith and credit of the u.s. government. >> nobody is threatening the full faith and credit. >> it undermines your argument to have it during the debt ceiling debate. >> we can have this debate right now. we need it for the next month and come together a month from now and figure out where we stand
. >> stop using the debt ceiling. you'll have a continuing resolution that runs out two weeks afterwards. why risk. in fact, if this is the rhetorical debate you want to have -- >> the problem with the republican party we get into this incrementalism where we assume we can win and keep putting off the debate. let's have a debate about whether or not we should balance our budget. >> a continuing resolution will be passed. the debt ceiling will be raised, right. >> i...
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Feb 26, 2013
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ceiling, debt limit. you know, we've got several big bumps in the road coming up. and maybe your point on fatigue of the policy to date finally just says, you know, enough. or they say -- >> you speak italian? >> i do. >> wow. ♪ >> you watch your favorite movie of all time? you think that it portrays italians in a negative way? >> well, i would choose one of the near-realistic films from italy itself. i wouldn't choose one of the mafia movies. >> [ inaudible ] >> i can't do that. >> andrew thinks we're talking about the deficit right now. that's the thing. g-4, g-3s, right? >> talking about good fellas. >> all right. >> anyway, so it's a good day for to talk sequester and italy, i think. and bring it home. we're going to talk more about that as we go on. >> italy needs a sequester. >> maybe italy needs a sequester. >> maybe we need a guy like berlusconi. we had one. right? we had one. let's bring him -- maybe we'll elect his wife. anyway these two guys will be with us for the rest of the hour. we are wa
ceiling, debt limit. you know, we've got several big bumps in the road coming up. and maybe your point on fatigue of the policy to date finally just says, you know, enough. or they say -- >> you speak italian? >> i do. >> wow. ♪ >> you watch your favorite movie of all time? you think that it portrays italians in a negative way? >> well, i would choose one of the near-realistic films from italy itself. i wouldn't choose one of the mafia movies. >> [...
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Jan 2, 2013
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this time it's the debt ceiling fight. they're worried eem as it seems the market has a tremendous case of seller's remorse. they're scared. even as it seems those who fled the market year end are in their buying and buying the same stocks we sold. when we looked certain to plunge into the fiscal abyss. how else do you explain how we got the best first day of the year for the s&p since 2009? let's take a moment to smell the 2012 roses. no one else did. because they seemed to smell pretty good to me and it's easy to go right past them without an ounce of thought. not tonight, not for me. i'm not advocating wearing these, i'm not wearing advocating rose-colored glasses. i'm saying there are some genuine roses out there totally visible to the naked eye. that i heard very few people celebrate today. that ends here. look, let's talk "mad money" manifesto for a moment. my job, what is it? it's pretty simple, right? it's to try to help you make money. i may not always be right, i'm first to admit it, okay? but i know there's an o
this time it's the debt ceiling fight. they're worried eem as it seems the market has a tremendous case of seller's remorse. they're scared. even as it seems those who fled the market year end are in their buying and buying the same stocks we sold. when we looked certain to plunge into the fiscal abyss. how else do you explain how we got the best first day of the year for the s&p since 2009? let's take a moment to smell the 2012 roses. no one else did. because they seemed to smell pretty...
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Jan 18, 2013
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short-term debt ceiling hike. but here's what i'm not hearing and what we should be hearing is an unambiguous plan to splash spending now. republicans need an absolute rock solid plan to implement the sequester which is $1.2 trillion over the next ten years. this is essential. not just to unite the republican conference. but more importantly, it's essential to helping the economy grow more rapidly. and if the republicans don't get it done, i'll say this. they may lose the house in 2014. so let's talk with karen finney. who's a columnist for the hill and former dnc communications director. and hadley heath, senior policy analyst at the independent women's forum. hadley, this paul ryan, he went out and met with reporters. republicans are in the retreat down in williamsburg, virginia. maybe they'll use a short term increase in the debt ceiling maybe three months or six months. is that the point? how does that inform you? does that get to the heart of the matter? >> it certainly doesn't get to the heart of the matter.
short-term debt ceiling hike. but here's what i'm not hearing and what we should be hearing is an unambiguous plan to splash spending now. republicans need an absolute rock solid plan to implement the sequester which is $1.2 trillion over the next ten years. this is essential. not just to unite the republican conference. but more importantly, it's essential to helping the economy grow more rapidly. and if the republicans don't get it done, i'll say this. they may lose the house in 2014. so...
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Jan 10, 2013
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that means lew will be the main point person for this debt ceiling drama. so, what does this mean ahead of what is likely to be another hard fight? perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something called the great lakes restoration initiative. not eliminating it, just cutting it by maybe a quarter of its present cost. a sav
that means lew will be the main point person for this debt ceiling drama. so, what does this mean ahead of what is likely to be another hard fight? perhaps the best clues for that are in an op-ed from two years ago from jack lew. inis entitled "the easy cuts are behind us." the piece absolutely advocates getting out of our debt and getting the debt and deficit under control. but it does so by discussing some cuts in defense and then examples of scaling back things like something...
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Sep 30, 2013
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>> the debt ceiling, becauses u.s. debt is the collateral for trillions of dollars worth of things, if it's considered bankruptble or falls into the category where counter parties don't accept it as collateral the logistical disruptions are so enormous it's reason enough they'll be forced to come to a deal. i think the debt ceiling is a big deal but not going to end up being because i don't think we're going to trip over that wire. >> what makes you so confident? >> because of the mess. if u.s. treasury is no longer collateral for a repo, you can throws u.s. financial system out the door for a couple weeks until they settle this. >> we have some kind of idea. remember back in august 2011, with the debt ceiling issue and made it to the s&p downgrade. the dow went through three weeks of massive triple digit moves either way and settled down. >> but we didn't default. >> no. >> you know, we weren't kicked out of our house with all our bags on the sidewalk. you know, and our children and dogs sitting on the lawn. >> the u.
>> the debt ceiling, becauses u.s. debt is the collateral for trillions of dollars worth of things, if it's considered bankruptble or falls into the category where counter parties don't accept it as collateral the logistical disruptions are so enormous it's reason enough they'll be forced to come to a deal. i think the debt ceiling is a big deal but not going to end up being because i don't think we're going to trip over that wire. >> what makes you so confident? >> because of...
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Jan 16, 2013
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ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more efficient fashion. the federal government should do the same thing, and president obama is the one person who can lead on this issue. grow the economy by bringing in some certainty to it. if he wants to fight hard for tax rate increases, he ought to be fighting just as hard for spending cuts. >> you know, governor, he made an interesting point during his news conference this week where he said if -- if this debate is just about reducing the fiscal deficit, he's on board and let's get it done, but he suspects that there are a lot of conservative republicans out there for whom this deb
ceiling issue. >> on the debt ceiling. >> that's not what he's doing. that's the reality. >> the american public has got to step up and say we understand the government in washington is too bloated. we're spending more money than we take in. we eve got to live within our means. they ought to demand, the american public, that we quit the nonsensical spending. in states we're doing more with less. we've cut our budgets and we're providing better services now and a leaner more...
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Jan 8, 2013
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ceiling and the fiscal cliff, or is there a point that you believe the debt ceiling fight damages the economy? >> i think we're already there, and i think you only need to look back at what happened a year ago or in the summer of 2011 when we hit that ceiling, and, in fact, even paying for it, maria, had a little spike in interest rates that went along with that. had to issue some debt that's still outstanding according to the budget priority center, costing us 18 billion over the last ten years in just in debt costs alone but because it's hurting us right now, maria, doesn't mean it can't get worse and it will probably. i don't know if you saw the small business confidence numbers this morning. they were up 0.5 from one of the lowest levels in 38 years. we have really taken small business optimism and put it in the gutter right now, and so it's a real problem for the economy right now, getting on a correct fiscal track would really have a lot of benefits. >> i mean do, they not understand that? it seems so obvious. >> it strikes me there's a rule they ought to be thinking about it. t
ceiling and the fiscal cliff, or is there a point that you believe the debt ceiling fight damages the economy? >> i think we're already there, and i think you only need to look back at what happened a year ago or in the summer of 2011 when we hit that ceiling, and, in fact, even paying for it, maria, had a little spike in interest rates that went along with that. had to issue some debt that's still outstanding according to the budget priority center, costing us 18 billion over the last...
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Jan 16, 2013
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that the debt ceiling is adjusted to accommodate the budget that we pass. and there is an enormous amount of hypocrisy going on. and i admit on the democratic side on the past, you know, it is like you going out and buying a refrigerator on your credit card and then 20 days later the bill shows up and you see you are over your debt limit, so you tell the freezer company, you're not paying it. the decision when you spend the money or raise taxes -- >> thank you very much for your answer. hope you will come back and join us again sometime. >> thank you. >> second inauguration of president obama takes place on monday, january 21st. that will martin luther king, jr. he will be sworn in on the day before, the 20th, as per the constitution. i will host a special cnbc event. it begins at 11:00 a.m. eastern time. that is, monday, martin luther king, jr. day. >> sue? >> ty, shares of lululemon continue to be under pressure on the back of the latest outlook. what is ahead for the yoga appear el maker? courtney is live in miami. courtney? ♪ ♪ ♪ [ male announcer
that the debt ceiling is adjusted to accommodate the budget that we pass. and there is an enormous amount of hypocrisy going on. and i admit on the democratic side on the past, you know, it is like you going out and buying a refrigerator on your credit card and then 20 days later the bill shows up and you see you are over your debt limit, so you tell the freezer company, you're not paying it. the decision when you spend the money or raise taxes -- >> thank you very much for your answer....
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Jan 2, 2013
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have you sequester fight in march coming up as well as debt ceiling. i think that brings us right back to where we were during the month of december in terms of the investor angest out there. so i don't -- >> okay, guys. guys, sorry. we have to cut you off. we have breaking news from the new jersey governor. happy new year, gentlemen. bri brian, news from governor christie. >> yes, we is talking about superstorm sandy not getting help. he is not mincing words. basically comparing it to other tragedy answers there is no doubt about who he blames. >> 31 days for andrew victims. 17 days for victims of gustav and ike. ten days for victims of katrina. for victims of sandy in new jersey, new york and connecticut, it has been 66 days. and the wait continues. there's only one group to blame for continued suffering of these innocent victims. the house majority and their speaker, john boehner. >> christie said over the weekend, he was assured this would get done. if you don't know the story, near the end of the session in the house of representatives, did not ta
have you sequester fight in march coming up as well as debt ceiling. i think that brings us right back to where we were during the month of december in terms of the investor angest out there. so i don't -- >> okay, guys. guys, sorry. we have to cut you off. we have breaking news from the new jersey governor. happy new year, gentlemen. bri brian, news from governor christie. >> yes, we is talking about superstorm sandy not getting help. he is not mincing words. basically comparing it...
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Sep 25, 2013
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ceiling in time to prevent any default on the debt. if that's true, then by the end of this month, by october 30th, when the fed next meet, you'll have a lot of this problem behind you, plus you have good housing numbers this morning, plus you'll get a good jobs report for the month of september. so overall, i still think we're probably moving towards the argument for phasing out qe despite what's going on in washington this week. >> in october, david? >> that's what i would have done, before september. >> okay. >> but i don't want to make that prediction given how dovish they've been so far. >> okay, diane, that's interesting. because if anything, more and more the rhetoric out of washington seems to be, okay, we'll get to a resolution on this piece of it, to keep the government funded through mid-november. the real fight happens around the debt ceiling which may fall october 24th, or earlier, because jack lew said yesterday tax receipts over the summer were weaker than anticipated. if that's the big fight, i'd be surprised if the fed
ceiling in time to prevent any default on the debt. if that's true, then by the end of this month, by october 30th, when the fed next meet, you'll have a lot of this problem behind you, plus you have good housing numbers this morning, plus you'll get a good jobs report for the month of september. so overall, i still think we're probably moving towards the argument for phasing out qe despite what's going on in washington this week. >> in october, david? >> that's what i would have...
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Jan 9, 2013
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the debt ceiling or abyss? our -- >> both. >> our long-term problems or the debt ceiling? both? >> both. absolutely both. you know, it's maybe early -- >> everybody's got the leave off the zeros, it's compelling. making $22,000. we're spending 38, adding $16,000 to our credit card every year. >> and you owe -- >> we already owe $150 -- $162,000. that does -- that hits home. can you imagine a household trying to operate like that? >> people write back that the analogy is flawed because the household, as a household you're earning currency -- it shows how much we've overspent. >> we cut -- and we raised $38 or something. >> it's too small, right? at $600 billion over ten years, it's not even a drop in the bucket. and i think we get to the debt ceiling debacle perhaps, you know, we've already heard the bid offer starting. we've heard the democrats say, look, we want more revenues. have we fixed the tax issue? i don't think the markets completely appreciating that part of the debate. $600 billion, i think obama wanted $1.6 trillion. i think boehner got us to 800. that was the bid of
the debt ceiling or abyss? our -- >> both. >> our long-term problems or the debt ceiling? both? >> both. absolutely both. you know, it's maybe early -- >> everybody's got the leave off the zeros, it's compelling. making $22,000. we're spending 38, adding $16,000 to our credit card every year. >> and you owe -- >> we already owe $150 -- $162,000. that does -- that hits home. can you imagine a household trying to operate like that? >> people write back...
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Jan 2, 2013
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one time and debt ceiling? is there a grand bargain still to be had? >> there needs to be a focus on cutting spending. you're absolutely right when you talk about the secretary of treasury having some ability to move that debt ceiling final deadline debate this way or that way. bottom line, the president talked about the debt ceiling, said he's not going to argue with congress again over bills they've racked up, let me remind the president and viewers, those are bills related to his so-called stimulus package which spent a lot of money and i believe has been a failure and his health care law. i will tell you as a doctor it is unworkable and continues to be very unpopular and unaffordable. these are the president's bills. it's a nancy pelosi congress that forced these things through. >> walk us through the dance that's going to happen here. who's got the leverage and what's going on inside your party. paul ryan and boehner voted yes for this and cantor and others voted no. how will all this come together? >> the
one time and debt ceiling? is there a grand bargain still to be had? >> there needs to be a focus on cutting spending. you're absolutely right when you talk about the secretary of treasury having some ability to move that debt ceiling final deadline debate this way or that way. bottom line, the president talked about the debt ceiling, said he's not going to argue with congress again over bills they've racked up, let me remind the president and viewers, those are bills related to his...
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Sep 13, 2013
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i'm concentrating on the debt ceiling debate. if you remember it was the debt crisis in europe and downgrade of the u.s. coincident with gold price at 1900 and higher. so that is more interesting to me. the only thing i'll say i don't like to make short-term predictions in terms of price, but if we get below 1283 and spend a little value there, spend a little bit of time there, it's highly likely we're going to visit the bottom end of the range, maybe 1180 and see what we can find beneath there. >> paul, thank you very much. have a great weekend. bob, see you later. all right. ty, up to you. >> thank you very much. a look at intel which has been moving higher by 69 cents, 2332 the quote right now. jeffrey upgrading the chipmaker to buy or says in this prompter to buy buy from hold and upping its price target to $30 a share and the company is poised to gain market share in sub500 tablets. stock up about 12% for the year. >>> and safeway gaining ground as well. closing in on a 52-week high. credit suisse upgrading the supermarket t
i'm concentrating on the debt ceiling debate. if you remember it was the debt crisis in europe and downgrade of the u.s. coincident with gold price at 1900 and higher. so that is more interesting to me. the only thing i'll say i don't like to make short-term predictions in terms of price, but if we get below 1283 and spend a little value there, spend a little bit of time there, it's highly likely we're going to visit the bottom end of the range, maybe 1180 and see what we can find beneath...
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Dec 24, 2013
12/13
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then we had the debt ceiling and when you see the debt ceiling, could be -- after the news and decided to move. and i know people who told me in disease the market was going to crush. >> it didn't. >> we will see 2000 in 2014. i doubt it will stay there, but i'm sure we will see it because they love big, fat round numbers. >> gentlemen, let's move on to the discussion. tell us if you agree where you see the s&p 500 next year and write into worldwide@cnbc.com. >>> the japanese government has approved the record high 922,000 budget for fiscal 2014. the story live from tokyo. >> hey, carolin. we will be up 3.5% from this fiscal year as a policy spending such as social security and defend programs will rise to a record high $696 billion. about one-third will be spent on social security. defend sxebd temperatures will rise as japan strengthens defense capabilities to offer greater deterrent for neighboring countries. the government hopes to restore fiscal health by reducing bond issuance by 315 billion. in the meantime, the government releasts monthly economic report today drops the word de
then we had the debt ceiling and when you see the debt ceiling, could be -- after the news and decided to move. and i know people who told me in disease the market was going to crush. >> it didn't. >> we will see 2000 in 2014. i doubt it will stay there, but i'm sure we will see it because they love big, fat round numbers. >> gentlemen, let's move on to the discussion. tell us if you agree where you see the s&p 500 next year and write into worldwide@cnbc.com. >>>...
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Oct 7, 2013
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there's not going to be a debt ceiling in breach and default on the debt. that's not just in the realm of possibility. that's unthinkable. last but not least, if we put that aside and look at consumer net worth statement, if we look at initial jobless claims, the unemployment data, i think going into the holiday season consumers looking back on this year should be pretty happy. >> so, you're basically saying, stay invested, don't get thrown off by uncertainties, is your message? >> take advantage of these opportunities is what we're advising clients. >> chris, what would you tell your clients to do in the face of what could be the next two weeks of volatility? >> we're telling them to get prepared. this looks like an opportunity. political uncertainty is a consensus view, likely to head higher. earnings are coming in higher than expected but we'll see cyclical upturns going into the end of this year and into next year. that causes us to do two things. one is ensure we have some powder sdri in cash, looking for opportunities to put in equities on a pullback.
there's not going to be a debt ceiling in breach and default on the debt. that's not just in the realm of possibility. that's unthinkable. last but not least, if we put that aside and look at consumer net worth statement, if we look at initial jobless claims, the unemployment data, i think going into the holiday season consumers looking back on this year should be pretty happy. >> so, you're basically saying, stay invested, don't get thrown off by uncertainties, is your message? >>...
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Oct 15, 2013
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when did the debt ceiling first hit $1 trillion? to run your li? okay, who helps you focus on your recovery? yo, yo, yo. aflac. wow. [ under his breath ] that was horrible. pays you cash when you're sick or hurt? [ japanese accent ] aflac. love it. [ under his breath ] hate it. helps you focus on getting back to normal? [ as a southern belle ] aflac. [ as a cowboy ] aflac. [ sassily ] aflac. uh huh. [ under his breath ] i am so fired. you're on in 5, duck. [ male announcer ] when you're sick or hurt, aflac pays you cash. find out more at aflac.com. [ male announcer ] when you're sick or hurt, aflac pays you cash. peace of mind is important when so we provide it services you bucan rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next. revolutionizing an industry can be a tough
when did the debt ceiling first hit $1 trillion? to run your li? okay, who helps you focus on your recovery? yo, yo, yo. aflac. wow. [ under his breath ] that was horrible. pays you cash when you're sick or hurt? [ japanese accent ] aflac. love it. [ under his breath ] hate it. helps you focus on getting back to normal? [ as a southern belle ] aflac. [ as a cowboy ] aflac. [ sassily ] aflac. uh huh. [ under his breath ] i am so fired. you're on in 5, duck. [ male announcer ] when you're sick or...
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Jan 3, 2013
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we have the debt ceiling to deal with. the government is only funded through march 31st of this year. and of course we still have to deal with the other side of a long-term deficit reduction deal which is spending reductions. that's going to be another knock-down dragout. so i think this will help on the margin but i think what will really give us a good solid boost in the economy will be once we get through the rest of this muddle. >> so even though congress may be claim some sort of victory in some ways in that they averted the fiscal cliff, you still think we're going to feel the effects at least through the first quarter of the year. >> i think we're going to feel the effects of dysfunctional government through the first quarter of the year. part of it will be the legend effect to the anxiety that businesses and the consumers had leading up to the fiscal cliff. and some of it will be lingering anxiety because there still is unfinished business and, of course, the process by which congress addresses these issues is very
we have the debt ceiling to deal with. the government is only funded through march 31st of this year. and of course we still have to deal with the other side of a long-term deficit reduction deal which is spending reductions. that's going to be another knock-down dragout. so i think this will help on the margin but i think what will really give us a good solid boost in the economy will be once we get through the rest of this muddle. >> so even though congress may be claim some sort of...
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Jan 4, 2013
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how much concern do have you about a fight over the debt ceiling? >> i think the debt ceiling is a dangerous thing to fight over. it did not go well in 2011. i hope we get a better and smoother resolution this time than we did that time. >> do you think that -- do you want congress and washington right now to be cutting spending? is that something that concerns you right now? >> well, i'm a monetary policy guy, so it is not up to me to recommend on this. but i do think that if you could set -- you know, get rid of the longer medium term and longer run on certainty about the u.s. fiscal outlook, i think it is a tremendous help for the u.s. economy. you only have so many dollars to spend. decide how you want it raise the money. >> easy for to you say, have you a lot of dollars to spend. you get to print them. >> indeed we do. >> thanks for joining us today. >> thanks for having me. >> jim bullard st. louis fed president. tyler, back to you. >> we print them, we print the money. jonathan, good to see you. kelly, let's get your reaction. i guess the rea
how much concern do have you about a fight over the debt ceiling? >> i think the debt ceiling is a dangerous thing to fight over. it did not go well in 2011. i hope we get a better and smoother resolution this time than we did that time. >> do you think that -- do you want congress and washington right now to be cutting spending? is that something that concerns you right now? >> well, i'm a monetary policy guy, so it is not up to me to recommend on this. but i do think that if...
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Oct 16, 2013
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the senate leaders made a deal earlier today to end the government shutdown and raise the debt ceiling, at least for a few more months. house and senate republicans have vowed not to block it. the impasse is over. but remember, folks, whether it's debt or spending, we may have to go through this entire exercise all over again this winter. we have all the angles covered on this story this evening. first up ace reporter robert costa has the latest on the budget votes and what the next step is for congressional republicans. the mark soared on the news a
the senate leaders made a deal earlier today to end the government shutdown and raise the debt ceiling, at least for a few more months. house and senate republicans have vowed not to block it. the impasse is over. but remember, folks, whether it's debt or spending, we may have to go through this entire exercise all over again this winter. we have all the angles covered on this story this evening. first up ace reporter robert costa has the latest on the budget votes and what the next step is for...
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Jan 8, 2013
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to raise debt ceiling on the sequestration. but that is a messy solution. what we need is an agreement between congress and the president over the long-term, both on what spending measures have to be taken for 2013 and longer term. and that is the debate that is still under way. i think there will be some sort ooh a deal. we were halfway down from the previous agreement reached on september 11th. it's a process that's going to be tortuous, but it will probably be resolved. >> tortuous and messy i think will the right words. >> why don't we turn our ears now until like this 24th hour and then just tune -- i mean, forget anything to that point is going to be noise, right? >> well, unless the noise tells you it's going to happen which is it's going to be -- >> well, that's my point. we all know it's going to be messy, complicated, tortuous. >> clearly, it will be fiscal issues in the u.s. economy. unless there's growth in the private sector to more than compensate for that, u.s. growth is not going to be as fast as necessary to ho
to raise debt ceiling on the sequestration. but that is a messy solution. what we need is an agreement between congress and the president over the long-term, both on what spending measures have to be taken for 2013 and longer term. and that is the debate that is still under way. i think there will be some sort ooh a deal. we were halfway down from the previous agreement reached on september 11th. it's a process that's going to be tortuous, but it will probably be resolved. >> tortuous and...
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Dec 30, 2013
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get something to raise that debt ceiling. paul ryan is talking about getting the keystone pipeline. democrats won't go for that. i think it's less of a risk but i think you could get some headline risks out of the debt ceiling. >> jimmy, by the way, what happens if, in fact, congress is able to do something big in terms of one of the items either on the president's agenda or something else when it comes to corporate tax reform? i mean, i've heard an extotally people shifting income into 2014, if something happens to that front? >> i would love to say, we're going to get big corporation tax cuts, imgreg, i don't think any of that stuff will happen in 2014. i think that's going nowhere. i think that's maybe a 2015. i think the whole year will focus, really, on obamacare and what happens with the affordable care act. republicans want to focus on that and set themselves up for the midterm. it's going to be a year of do nothing. do nothing good or bad. >> next year is divisible by two meaning we have midterm elections when typical
get something to raise that debt ceiling. paul ryan is talking about getting the keystone pipeline. democrats won't go for that. i think it's less of a risk but i think you could get some headline risks out of the debt ceiling. >> jimmy, by the way, what happens if, in fact, congress is able to do something big in terms of one of the items either on the president's agenda or something else when it comes to corporate tax reform? i mean, i've heard an extotally people shifting income into...
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Oct 2, 2013
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we still have another big, bad event to go through, the debt ceiling debate. which means this market could go lower again as we get closer to october 17th when the government runs out of money and the debt roof needs to be raised. but you know what, we spend way too much time talking about washington. sure a protracted shutdown could hurt domestic companies, travel, leisure and others directly impacted by visas, national park closings and worries that something might be open when you get there and it isn't. but the fact is, washington's not and has never been the be all and end all of the stock market. the truth is, politics is just one piece of the puzzle. not even the most important piece at that. when this show first started back in march of 2005, most professional money managers and business oriented talking heads barely paid attention to politics at all. now it can seem like politics is all they pay attention to. and i think we got to correct that misperception on this 2000th show. i'm worried about the debt ceiling like you are, but don't let that blind
we still have another big, bad event to go through, the debt ceiling debate. which means this market could go lower again as we get closer to october 17th when the government runs out of money and the debt roof needs to be raised. but you know what, we spend way too much time talking about washington. sure a protracted shutdown could hurt domestic companies, travel, leisure and others directly impacted by visas, national park closings and worries that something might be open when you get there...
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Mar 1, 2013
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the debt ceiling, debt downgrade, you tell people to get out. i'm just saying, it's so overwhelmingly negative coming from washington, it's produced a lot of false tales for the stock market. >> ihealth care, we've seen staples, the bunker trade yesterday with the likes of hormel and kellogg hit you new highs day after day. does that tell you something about the nature of this rally, people are willing to buy the markets, but in a defensive way, not putting the money into large cap technology or energy or materials. >> energy, materials, china. people worried about a slowing in china and europe. when you look at clorox, they're a big beneficiary of a raw cost. same thing with kellogg. with the exception of perhaps the actual box, which might be going up in price. they'll tell you that. people love the defenses, technology keeps disappointing. the cloud still works. sales force.com, great numbers. the conundrum for me is retail. because retail should be the rth, should be the greatest short, and it hasn't complied. >> right. >> no, it hasn't. nor
the debt ceiling, debt downgrade, you tell people to get out. i'm just saying, it's so overwhelmingly negative coming from washington, it's produced a lot of false tales for the stock market. >> ihealth care, we've seen staples, the bunker trade yesterday with the likes of hormel and kellogg hit you new highs day after day. does that tell you something about the nature of this rally, people are willing to buy the markets, but in a defensive way, not putting the money into large cap...
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Jan 3, 2013
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ceiling. >> well, listen, i think the debt ceiling is something that i think hopefully we've learned our lesson from last year on that. that that's not a political football. >> you're in washington. do you think we've learned it? do you think we're going to be having this conversation at 11:59, you know, and 59 seconds in a month or two, when tim geithner says we're going to go over? >> you know, i would -- i would predict that whatever we do, it will be at 11:59. and we'll both -- everyone will act responsibly? probably not. and again, the interesting thing is, if you're a political scientist this is going to -- this is a really interesting time to watch a political party. the republicans have got to figure out, you know, whether they want to get the best deal they can, or whether they want to try to, you know, obstruct the process. you know, we'll see what happens. i wouldn't -- >> you're killing me, though. because i'm thinking about how we all just blindly accept that this got turned in to a tax debate. with all of our problems with entitlement, and all those unfunded liabilities
ceiling. >> well, listen, i think the debt ceiling is something that i think hopefully we've learned our lesson from last year on that. that that's not a political football. >> you're in washington. do you think we've learned it? do you think we're going to be having this conversation at 11:59, you know, and 59 seconds in a month or two, when tim geithner says we're going to go over? >> you know, i would -- i would predict that whatever we do, it will be at 11:59. and we'll...
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Jan 22, 2013
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they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to take up a bill tomorrow afternoon to extend the debt ceiling, not just to april 15, but to may 18. they are going to do it with a mechanism that would allow them in effect to suspend the debt ceiling, not even to raise it making it easier for conservatives to vote for it and senate democrats say they plan to take up that proposal and expect to pass it by an overwhelming margin sometime within the next week or so. now, jay carney at the white house today for his part said we wouldn't a longer term extension than that but the president is not going to block thi
they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to...